Pickalbatros, one of Egypt’s largest hotel chains, has expanded its presence in Morocco through the acquisition of four new hotels this year, Asharq Business reported on Tuesday.
With its new additions, Pickalbatros’s total portfolio in Morocco now exceeds 2,600 rooms. Kamel Abou Ali, the group’s chairperson, confirmed in an interview with Asharq. The financial details of the acquisitions have not been disclosed.
The newly acquired properties include Club Sangho in Marrakech, which includes 349 rooms, and the Palmeraie Palace and Golf Hotel, also in Marrakech, with 640 rooms.
In addition, the Palais des Roses in Agadir, with 410 rooms, has been added to the group’s holdings. Some of the hotels are expected to undergo renovations before reopening to the public next year.
Already a significant player in the Egyptian tourism sector, Pickalbatros has invested over USD 200 million in Morocco.
Following the acquisitions, the company now operates a total of seven hotels in the country and is actively exploring further investment opportunities. Abou Ali said that Morocco represents a promising environment for tourism investment.
Beyond its Moroccan expansion, Pickalbatros is also developing hotel projects in Egypt, with a combined capacity of 4,000 rooms. The group’s portfolio now spans approximately 29 hotels across Egypt and Morocco, with properties located in major tourist destinations such as Hurghada, Marsa Alam, and the North Coast of Egypt, as well as Marrakech and Agadir in Morocco.
The Moroccan tourism sector has shown strong performance, generating around USD 6 billion in revenue during the first seven months of 2024, a 3.67% increase from the previous year. The Ministry of Tourism expects the number of tourists to exceed 15 million by the end of the year.